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Are the Mets another victim of Bernie Madoff?

March 5, 2012

That is the exact question a jury will decide later this month in the trial that could put the owners of the Mets on the hook for hundreds of millions of dollars. The trial will focus on whether the Mets’ owners were willfully blind to indications that Madiff was engaged in a fraud during their 25 year investing history with him.

The principal issue at trial, according to the Court’s recent order, “is whether the defendants acted in good faith when they invested in Madoff Securities” or if they “willfully blinded themselves to Madoff’s Ponzi scheme.”

The jury’s answer to that question may have a substantial impact on the financial fortunes of the Mets going forward – at stake are claims of damages for between $83 million over $300 million.